Only saw last nights show but it was compelling. Stringer a level above in mental toughness.
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@Fagan_ODowd & @anon67715551 giving Ray McSharry both barrells there at the first Eircom AGM
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Not me certainly. While I had no money, a friendly banker sponsored a “facility” enabling me acquire 1000 shares on the QT. I rocked home one day to some disparaging remarks about impending college costs, bills overdue etc… (She’d opened the big bulky envelope including the share certificates)…I wasn’t impressed and vowed on the spot to extricate myself from the situation. The launch took place but such was my mood I attempted an immediate sale. This took longer than anticipated (a few days) by which time they were sold at €4.40 or thereabouts. Profit of about €400 or so. I could never understand the hullabulloo about those shares - I (inadvertently) made a few shekels. You buy and you sell.
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I put 2 grand I didn’t really have in. Lost half that in the finish. Good life lesson. Never bought a share since.
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Why were the Eircom shares seen as so bulletproof and why did the arse fall out of them?
It seems like the tech crash at the turn of the millennium caused shares of most Telecoms companies to crash.
Gas looking at the demographics of most of the people who attended the first AGM. All pensioners who were probably investing in shares for the first time and got rinsed. It seemed like one big whinge that their first foray into the stock market had gone awry.
Reminded of that painful ad campaign too for the flotation
Good owl documentary here on Sky Documentaries about Martin Lurher King
Was more to it than a whinge tbf. The government were pushing it as if it were a free bet. To the extent that the banks were running schemes with pre approved loans for people to buy the shares and only pay interest on the loan until you sold the shares. People were approved for 100k and more only they didn’t get the full allocation of shares
In fairness you’d want to be some mug to bet on the stock market with borrowed money.
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But sure they were mugs. They didn’t really know what they were doing. They relied on the Government and they let them down spectacularly.
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Agreed.
At the time it wasn’t presented as a bet though twas almost like the government were doing you a favour letting you buy into this
Load of people did make money too though. Plenty sold after a few days and banked a few grand profit
There should be a redress scheme.
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Just a little warm up before the banking crisis.
In fairness there were some who learned a relatively inexpensive lesson from the eircom debacle and never made that mistake again but there were plenty who steamed in and borrowed heavily from the banks to buy bank shares which were a one way bet until 2007.
FG actually suggested this at the time 
The Eircom shares increased by about 25 per cent Over the flotation price.
Nobody who takes a profit loses money.
Lads got greedy and thought it was a one way bet.
It was fascinating to watch
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Jesus if SF said that now
Joe Kennedy & Klondike come to mind
Quality exchange here. MHR v the ‘Soft in the head’ brigade
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Claire Brock is superb
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